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Marathon Petroleum (MPC) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest trading session, Marathon Petroleum (MPC - Free Report) closed at $152.50, marking a -0.59% move from the previous day. This change lagged the S&P 500's 0.18% gain on the day. Elsewhere, the Dow saw an upswing of 0.07%, while the tech-heavy Nasdaq appreciated by 0.1%.
Heading into today, shares of the refiner had gained 8.35% over the past month, outpacing the Oils-Energy sector's gain of 1.79% and the S&P 500's gain of 2.75% in that time.
Market participants will be closely following the financial results of Marathon Petroleum in its upcoming release. The company plans to announce its earnings on January 30, 2024. The company is forecasted to report an EPS of $2.29, showcasing a 65.56% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $33.82 billion, reflecting a 15.65% fall from the equivalent quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for Marathon Petroleum. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 5.71% lower. Right now, Marathon Petroleum possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Marathon Petroleum is currently exchanging hands at a Forward P/E ratio of 10.35. This expresses a discount compared to the average Forward P/E of 10.36 of its industry.
One should further note that MPC currently holds a PEG ratio of 1.72. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. MPC's industry had an average PEG ratio of 1.6 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 72, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Marathon Petroleum (MPC) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest trading session, Marathon Petroleum (MPC - Free Report) closed at $152.50, marking a -0.59% move from the previous day. This change lagged the S&P 500's 0.18% gain on the day. Elsewhere, the Dow saw an upswing of 0.07%, while the tech-heavy Nasdaq appreciated by 0.1%.
Heading into today, shares of the refiner had gained 8.35% over the past month, outpacing the Oils-Energy sector's gain of 1.79% and the S&P 500's gain of 2.75% in that time.
Market participants will be closely following the financial results of Marathon Petroleum in its upcoming release. The company plans to announce its earnings on January 30, 2024. The company is forecasted to report an EPS of $2.29, showcasing a 65.56% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $33.82 billion, reflecting a 15.65% fall from the equivalent quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for Marathon Petroleum. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 5.71% lower. Right now, Marathon Petroleum possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Marathon Petroleum is currently exchanging hands at a Forward P/E ratio of 10.35. This expresses a discount compared to the average Forward P/E of 10.36 of its industry.
One should further note that MPC currently holds a PEG ratio of 1.72. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. MPC's industry had an average PEG ratio of 1.6 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 72, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.